welcome to the video update for Monday, August the 17th. Trader Rick begins with the eurostoxx 50 weekly chart which indicates loss of momentum but price is still trading outside the upper keltner band which is notewortthy. Watch the 60 minute chart to see if price moves in to the sell zone.
On the weekly Canada chart, price pulled back last week but is not in the buy zone. We are still watching for the dragon pattern to unfold. Trader Rick shows the possible levels of support using the fib zone on the daily Canada chart.
In crude, on the monthly chart don’t forget we are in the sell zone. The weekly chart has a different look to it. Check it out, as well as the 60 minute chart which has a common chart pattern and a possible alternative pattern.
Trader Rick goes over the weekly euro currency chart and then shows an ab=cd pattern with the 1.27 fib on the daily euro chart. Support levels below the market are covered.
This video update finishes with the NQ, Dow and the ES charts. Keep an eye on the Dow daily chart for support not far below current price.
Good trading!
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